Friday’s jobs report torpedoed the market. Fewer jobs were created and the unemployment rate rose, albeit a little, for the first time in almost a year. Nasdaq tumbled 2.82% and SPX dropped 2.46%. We had a pretty good week though with most closing trades in the GR$$N, and catching some nice intraday trades on GLD [...]

Friday’s jobs report torpedoed the market. Fewer jobs were created and the unemployment rate rose, albeit a little, for the first time in almost a year. Nasdaq tumbled 2.82% and SPX dropped 2.46%. We had a pretty good week though with most closing trades in the GR$$N, and catching some nice intraday trades on GLD and NEM on Friday as gold popped $66. Our downside plays on LNKD and CREE also worked out well:

For the rest of the month, things worked out pretty well. Downside plays on NFLX, CMI, LNKD, GS, RIG, and SLV all reaped handsome rewards. We also traded on the longside, catch a +1185% win on VRTX and some quick trades on AAPL, GOOG, and CF:

The world financial markets continue to be troubled by the crisis in Europe. Now, it seems both the US and China are also slowing down. Next week, we’ll hear from the Fed. Talks about QE3 is once again alive. I’ll be back tomorrow evening to take a closer look at the broader market and individual sectors in my weekly Market Forecast.